Home inventory has slightly decreased by .7% for the month of August 2009 when compared to six months ago (March 2009). Compared to the previous month of July, there was a minor decrease (1.8%) in single family homes for sale. It is good that we are seeing inventory levels remaining steady while home sales are increasing; this will ultimately reduce the months of inventory in Colorado Springs.
Single Family Home Inventory in the Pikes Peak MLS was 20% higher in August 2008!
Looking at stats for August 2009, Single Family Home inventory in the Pikes Peak MLS is sitting at 5.6 months (compared to 5.4 months in July). Single family inventory has remained at 6 months or lower since May. There is a balanced market in Colorado Springs when inventory sits at 6 months; the market is definitely improving for sellers.
*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed
Patio homes are included in these stats